The following article is from The Land news
Written by ANDREW MARSHALL on 11 June, 2015

“DISCOUNT borrowing costs are being promoted by National Australia Bank (NAB) for farmers and related agribusinesses looking to improve energy efficiency or invest in renewable options such as solar, biogas or wind power.

NAB has teamed up with the government-backed Clean Energy Finance Corporation (CEFC) in a $120 million funding program which allows businesses access to cheaper equipment finance when buying assets which cut energy use or generate renewable energy.

The agreement allows NAB to offer a 0.70 per cent cut on its standard equipment finance rate for loans of up to $5m.

NAB claims it is already Australia's largest debt financier of renewable energy projects, funding more than $1.8 billion towards wind farm transactions in eight years.

NAB Agribusiness general manager Khan Horne said many farm sector businesses were transitioning to more sustainable business models and, particularly for intensive agriculture, a big part of this is lowering energy and water bills.